675 1st St SEElginMN55932
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayMarkets with strong demand fundamentals often produce low-yield, high-appreciation assets. 675 1st St SE, Elgin, MN, 55932 in Elgin fits: $395,000, 2.55% gross yield, and a projected 5% annual appreciation rate adding $109,131 in value within five years. Rental yield 2.55%. The narrow rent-to-debt spread is the trade-off for market growth. Ziffy Mortgage's DSCR loan (0.47) finances non-U.S. buyers without personal income documentation; optimise coverage with a 30–35% down payment. $3,638/yr in principal paydown and $109,131 in appreciation project a total return of $45,216.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.6% | 7.0% |
| Monthly Cash Flow | $(1,627) | $350 |
City averages based on Elgin market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $840 |
| Total Monthly Debt Service | $2,309 |
| DSCR Ratio | 0.36x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2025
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55932, Elgin, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 806 (100%) |
| Owner Occupied HU | 634 (78.7%) |
| Renter Occupied HU | 127 (15.8%) |
| Vacant Housing Units | 45 ( 5.6%) |
| Median Home Value | $334,783 |
| Average Home Value | $408,486 |
Housing Distribution
Address Breakdown
Residential
629
Single Family
629
Multi-Family
0
Businesses
41
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 2025
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55932, Elgin, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 806 (100%) |
| Owner Occupied HU | 634 (78.7%) |
| Renter Occupied HU | 127 (15.8%) |
| Vacant Housing Units | 45 ( 5.6%) |
| Median Home Value | $334,783 |
| Average Home Value | $408,486 |
Housing Distribution
Address Breakdown
Residential
629
Single Family
629
Multi-Family
0
Businesses
41
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices